The project is being funneled through the duo’s three-year, six-picture financing deal.

Waugh, repped by ICM and Management 360, wrote and directed "Felon," a thriller starring Val Kilmer and Stephen Dorff that Relativity produced and Sony distributed. Waugh spent a decade and a half in stunts, working on movies including "The Blob," "They Live," and "Gone in Sixty Seconds," before jumping into writing and directing.

Lerner, repped by ICM and Anonymous Content, is a former war correspondent for Newsweek and other publications. He has an untitled project based on champion boat racer Don Aronow set up at Fox 2000 with Tony Scott attached to direct.